July arabica coffee (KCN24) Tuesday closed down -0.85 (-0.38%), and July ICE robusta coffee (RMN24) closed down -40 (-0.94%).
Coffee prices on Tuesday gave up an early advance and posted moderate losses, with arabica falling to a 2-week low and robusta falling to a 1-week low. Coffee prices are being pressured by Brazil's faster coffee harvest, which has boosted coffee supplies. Consulting firm Safras & Mercado reported last Friday that Brazil's 2024/25 coffee harvest was 29% completed as of June 4, faster than 26% last year at the same time and faster than the 5-year average of 27%.
